Expatriates moving to Switzerland, home to some of the biggest private banks, commodity traders and pharmaceuticals companies, earn an average of more than $193,000.
That’s the highest in the world and 54 per cent more than if they’d stayed at home, a study published Wednesday by HSBC. That boost in remuneration is only surpassed by the 58 per cent increase enjoyed by expats relocating to Saudi Arabia’s petrodollar economy.
The number of millionaires in the world rose by nearly 8 percent last year to an all-time high of around 16.5 million people, with record total wealth of $63.5 trillion, according to a report by global consultancy firm Capgemini.
Booming global stock markets has catapulted an extra 1.15 million people into the high-net-worth individual (HNWI) bracket, according to figures from Capgemini’s 2017 World Wealth Report.
The US has overtaken Switzerland as the world’s richest country in terms of wealth per household. On September 27, Allianz unveiled the eighth edition of its "Global Wealth Report", which puts the asset and debt situation of households in more than 50 countries under the microscope.
At the top of the list of the 20 richest countries (net financial assets per capita, see table), a changing of the guard occurred in 2016, with the United States capturing the top spot from Switzerland.However, its lead is razor-thin and some of the credit goes to a stronger dollar.
For the second year in a row, Bangkok is poised to be the most popular city in the world for international travelers.
The Thai capital is projected to welcome nearly 20.2 million international overnight visitors this year, according to a report by financial services corporation Mastercard.
Mastercard’s 2017 Global Destination Cities Index looks at visitor volume and spending to rank 132 top destination cities.
The BBC reported Friday banks and building societies in the UK will carry out checks from January to see if account holders are in the UK legally or not. The BBC quoted The Guardian as saying 70 million accounts will be looked at quarterly.
The BBC said financial institutions will be provided with a list from anti-fraud organisation Cifas on people who are liable for removal or deportation from the UK or who have absconded from immigration control, and these organisations will then have to report anyone they discover and freeze or close the accounts.
Wizz Air today introduces its new “Flexible Travel Partner” service, allowing customers to create a new reservation without including all passengers’ names at the time of booking.
This innovative new product has been designed for customers who want to book their trip securing low-cost fares well in advance, yet are uncertain who their travel partners will be.
Indians seem to prefer Asian tax havens and not Switzerland, according to the bilateral foreign holdings data released by the Bank of International Settlements (BIS), says an article in the Times of India.
Switzerland has always been infamous for storing most of the black money which is generated by evading tax. However, data suggests otherwise. About 53 percent of the offshore Indian wealth is kept in places within Asia such as Hong Kong, Macau, Singapore, Bahrain and Malaysia and only 31 percent of the Indians have their wealth stored in Swiss banks.
Stanford University has been named the best university in the world for graduate employability for the second consecutive year, acccording to QS Quacquarelli Symonds, global higher education analysts and career advice specialists. The American institution is one of 13 United States of America universities in the top 25 of the QS Graduate Employability Rankings 2018, which assesses how successfully universities produce employable graduates and foster connections between students and employers.
